S&P: NiSource unchanged

Standard & Poor's said that NiSource Inc.'s (BBB-/stable) announcement that it will revise its previously announced 2007 earnings and delay the release of its Form 10-K filing does not affect the rating on the company or its subsidiaries NiSource Finance Corp., Northern Indiana Public Service Co. and Bay State Gas Co.

The agency said that the delay stems from accounting adjustments that will be made to unbilled electric revenue estimates from the last several years, which could total $15 million to $20 million.

This noncash charge would be reflected in adjusted 2007 financials, the agency said, adding that this relatively small amount would have a minimal effect on the company's overall financial condition and does not signal any material change in the company's overall financial policies.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.